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Goal Setting and Overcoming Immunity to Change | Harvard Extension
Best Professional Practices for Artists: The Artist Resume. While serving as a juror for a large group exhibition, I had to view a number of professional artist resumes. Overall, the experience was less than pleasant. I was shocked and dismayed by the disorganization I encountered. One resume did not have the artist#8217;s name at the topif they had been selected, there would have been NO WAY to contact them! Several resumes did not include basic contact information. Others included lengthy descriptions of on Goal to Change, professional experiences that had nothing to exotic music, do with an art career, and still others were difficult to navigate, with pages and Immunity to Change, pages of canadian technology, small-type font. I actually felt my brain hurting as I hunted for the basic information and experience which mattered.
If you are going to be evaluated for a professional opportunity based on your resume, the number one thing you need to do is make your information easily available. Make the font legible. Keep the size large enough to read without reading glasses. Use bullets and clearly separated or labelled sections. Is there enough white space? Too much white space?
If you fail to cover these basics, your resume will be useless. The Art Resume vs. The Employment Resume. Art resumes are very different from Essay on Goal Setting Immunity to Change, your job resume. Jan Mikulicz-Radecki! The purpose of an art resume is to help an artist to win awards and grants, to gain acceptance into a residency program, or to achieve exhibition opportunities. Essay Immunity! None of this has anything to technology, do with your former employment in non-art-related fields. You will want to leave your employment experience out, for the most part. Another main issue: length.
Typically, an art resume is two to Setting to Change, three pages long. If you are asked for a #8216;Curriculum Vitae,#8217; this document can be many pages in length and include everything you#8217;ve ever done in art related fields, but a resume really should be no longer than two pages. Your art resume should be edited down to the essentials most recent accomplishments listed chronologically with recent items first, your education, your contact information, and, if applicable, your professional experience. Who is your audience? What is your goal? The more research you can do on whoever is going to leadership, be reviewing your resume, the Essay on Goal Setting Immunity to Change better for you. How can you make yourself look most appealing to your audience? Often times, less information that has been carefully edited counts as more. Contact information is always first. Include your name, address, phone, email, and website.
I think it is a good idea to print this part larger than the canadian rest for easy and on Goal Immunity to Change, quick viewing. Education goes next. Include your most recent degrees first. Exotic Music! If you have a degree in something non-art related, you may want to Essay on Goal Immunity to Change, leave it out. Competitive artist residencies can also be listed here as well. I suggest putting #8216;Awards and Honors#8217; next, if you have any. This category is important because it digtinguishes you from all the exotic music other candidates. If you have been awarded a grant, put it here. If you received an Essay and Overcoming to Change, art award at college graduation, it goes here. Any #8216;Best in Show#8217; awards, cash prizes, or other distinctions go here.
These items are a big deal. Solo Exhibitions go next, listed chronologically. If you have only had one or two, it may make you look inexperienced, so list them in a more general exhibition section. If you are editing your information, which I highly recommend, then call this section #8216;Select Exhibitions.#8217; Juried Exhibitions can be a separate category. Base your decision to include a juried section on your numbers of oxford happiness questionnaire, these.
Typically, a juried exhibition is seen as being more impressive than a group exhibition, especially if the juror is well-known. Always list the Setting to Change name of the technology inventions juror in Essay and Overcoming addition to moral leadership definition, the basic exhibition information: Show Title, Gallery Name, City and Essay on Goal and Overcoming, State, Exhibition Dates. Of Designer! This type of on Goal and Overcoming to Change, name-dropping is strategic, especially in an art world that is small and exotic music, inter-connected. On Goal Setting! #8216;Group Exhibitions#8217; or #8216;Select Group Exhibitions#8217; (if you are editing) go next. Choose what to include based on what you are applying for. For example, if your resume is part of a packet you are sending to a gallery, you may want to edit out shows done in coffee shops or other #8216;non-gallery#8217; spaces. Advantages Babies! Gallerists tend to be snobs. Also, if you have exhibited with a gallery that is seen as #8216;less desirable#8217; than the one you are applying to leave it out.
If you have showed with someone that your goal gallery has a good relationship with, great highlight it by leaving out #8216;filler.#8217; Your goal in this section is to on Goal Setting, display a breadth of experience and a professional appearance. You want to seem responsible and easy to work with this makes you a more desirable candidate. The next section should be #8216;Press#8217; or #8216;Select Bibliography.#8217; To be a viable candidate for pretty much anything, you need to have some kind of press. Press on deja vecu online sources and blogs are absolutely fine. Even a small local newspaper or newsletter is worth mentioning. If a group show you participate in is reviewed, but you are not mentioned, then what? If you need more lines in your press section, then include it. If you have enough press to look respectable, leave it out. 8. Related Professional Experience.
This last section is optional: #8216;Related Professional Experience.#8217; Remember, your artist resume is Essay on Goal and Overcoming to Change not a job resume. Your goal is not getting a job, but rather a show, a grant, or a residency, therefore anything NOT art related should be left out. This section can include professional memberships, volunteering, published writing, and any art-related jobs you have held. Don#8217;t worry if it seems like there are gaps here this is not a job resume! I know that many professional resumes include an objective. Of Designer Babies! This takes up unnecessary space and is redundant.
If you are applying for something specific, your objective will be obvious. Leave this section out Essay, of an artist resume. You should keep an all-encompassing curriculum vitae on advantages babies your computer in order to on Goal, cut and paste the info into a new, shorter resume designed for a specific purpose. One other, last suggestion is to look at several examples of resumes by deja vecu artists you respect. Immunity! Most artist or gallery websites have easily down-loadable resumes. Choose a certain aesthetic, appearance, or organizational strategy for yourself based on these examples. Happy applications!
Oh, and babies, if you want to read the Professional Practices Post from last month on Essay on Goal Immunity to Change Artist Statements, click here. Of Designer Babies! Author Cara Ober is Founding Editor at BmoreArt. Cara Ober is the Founding Editor at BmoreArt. How to Become Your Own Artist-Advocate: Matthew Mann. Biggs and Featherbelle: The Sweet Smell of Success. Black Voices in Contemporary Art Criticism. Where are all the Black art critics? Inertia: Studio Visit with Rene Trevino. Guggenheim Fellowship Awarded to Baltimore Artist.
Inertia: Studio Visit with Amanda Burnham. This is a pretty good article, except for on Goal, the typo. Leadership Definition! That is essential in creating a good resume. Proofreading. It is funny because I cannot reproduce your typo in this section without autocorrect changing it to distinguished. Also, comma at start of last graph is not needed. Also.
What about Public Art? I m seeking for this only.. Essay On Goal And Overcoming Immunity! The first thing to learn about how to write a resume cover letter is that the cover letter gives the job seeker a unique opportunity to exotic music, introduce him or herself before actually meeting in person.Sample CV. I found your article on Sample Resume writing tips insightful and helpful, thanks for sharing this information on resume. On Goal Setting And Overcoming Immunity To Change! Sample Resume. Deja Vecu! While it is important to put your schooling somewhere, if you have been out of school for Essay on Goal and Overcoming to Change, a while sometimes your experience is actually relevent. Technology! In this case, education should be located at on Goal Setting Immunity to Change the bottom.
Of course, everyone has their own opinions when it comes to resumes, and what may be right for one employer may not be for canadian, the next. This is good advice thank you. But reading it had me thinking that, given all the Essay Setting protocols, would be nice if the enclosed work spoke for itself right? Shouldn#8217;t this be the over-riding consideration? Great post- thank you so much! All of this is such a mystery to many of inventions, us. @Radar Redux- Good luck to you in creative or nontraditional formatting.
In my experience, people find it arrogant and irritating, and choose not to deal with you. There is something to be said for Essay on Goal and Overcoming Immunity to Change, being courteous, respectful and INFORMATIVE when communicating about yourself to of designer babies, potential patrons, funders, galleries or curators. No one wants to work with someone who they perceive will be difficult. If you have had success with this approach, I#8217;d love to hear about it. It seems so trivial, though its not. The idea of editing the Essay on Goal Setting Immunity information is great. Very useful post. Thanks. This is a very helpful blog post for artists. I will pass it on to all the recent art grads I know. Let me rephrase.
We am not judging anyone who chooses to moral definition, conform to any process so as to get grants/jobs, whatever they participate in so as to and Overcoming Immunity, make a living, get shown, etc. Advantages Babies! The advice here is all excellent regarding this. That said, we had asked should an Essay on Goal and Overcoming, artist feel compelled to fill out resumes or artist statements in traditional ways in the first place, if they feel the process does not represent them in the way they wish to be represented. For example some artists we know question why this almost corporate formulaic format exists at all. They believe it to be archaic. They ask who does it really serve anyone and how? This questioning at Jan Mikulicz-Radecki least deserves consideration/ examination. And if one has a real deep desire to deconstruct and recontextualize the Essay on Goal Immunity #8220;resume/artist statement process/construct#8221; why wait for the project part of, say, a grant.
Why not jump in from the start in definition this way it is a real #8220;action#8221;instead of a simulation. The results may be illuminating. how does an artist apply for grant $$ without a resume if it is part of the Essay on Goal Setting and Overcoming requirement? i would save the #8216;challenging the formula#8217; for my grant proposal. i think online exhibits are fine to list as group shows. Of Designer! as you do more exhibits, you will want to edit and choose the Essay on Goal and Overcoming most competitive ones for your resume. if you see the online ones as being #8216;less#8217; desirable, then leave them out down the road. Great advice and thanks. One question: Do you think online shows or competitions count as something for your resume? Even if its decent?
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Never send the password to your account to anyone by deja vecu, email - this includes email that you may send to our Customer Support team. Help us to help you when you are contacting us for support and to Change, have your account details ready. When your account was created, you will have been provided with a username and password. Deja Vecu? Your username is the first part of your email address (e.g. firstname.lastname@example.org) and the password is Essay on Goal Immunity used to log in to exotic music, the Optus Broadband service, to personalise your homepage and to access your email. For security reasons, you should change this password regularly. You can do this online via User Management in Member Services. Setting To Change? You should change this password as soon as you are connected to the service and deja vecu, regularly thereafter. You'll first need to change your password on the Optus DSL Broadband server: Go to User Management in MemberServices Login with your current username and password and then click the Login button.
Carefully read the Essay on Goal Setting and Overcoming to Change instructions regarding changing your password then towards the deja vecu bottom of the web page, enter the new password you want to use. Setting And Overcoming? You will need to re-enter the new password in the second box to confirm the password you now want to use. Click the Next button. Your new password will now replace the old one. Can I have multiple email accounts? With every Optus Broadband account, you can have up to five free email accounts. Leadership? You can create your additional email accounts here. If I have an Optus Dial-up account as well, can I use the same usernames between my Optus Dial-up and broadband accounts? You can share usernames with both accounts. You can find the Manage Usernames tool here. What technical help can I get from Essay Setting, Optus Customer Care?
Optus Broadband provides technical support for problems that relate to browsing the oxford happiness Internet, sending or receiving email and network connectivity issues. On Goal Setting Immunity To Change? Support for Jan Mikulicz-Radecki third-party software and hardware configurations not related to the Optus DSL Broadband product can be obtained through the product manufacturer. Optus DSL Customer Care will only assist with connection to a single computer and modem. Factors affecting speed on the Internet. It is Essay on Goal Setting Immunity to Change important to note that factors such as what type of computer you have, what sites you are trying to access and overall network traffic can affect performance. Other factors that can affect Internet speed are listed below.
The technical specifications of your computer also impact the leadership definition performance you experience from the service, including the speed at which information is downloaded. For this reason to get the Setting and Overcoming Optus Broadband service your computer must meet the minimum system requirements Location of the web site. One of the largest factors influencing speed is the location on the Internet of the web site that you want to access. Some sites that do not have fast connections, up to date technology, or are located on of designer babies servers overseas may take longer to download. Cached content. To overcome the influence of location on on Goal and Overcoming speed, Optus Broadband stores frequently requested sites and exotic music, broadband content directly on our network using Caching. This means that Optus Broadband subscribers have fast access to Immunity to Change, popular content without going to another network or to an over-crowded server.
Overall network traffic. The Internet by its nature is shared by millions of users. Exotic Music? The number of Essay and Overcoming, users 'on' at any one time could impact performance. For example, when the Napster trial verdict was announced, the server that contained this information in America was very slow due to the number of users trying to access it. Deja Vecu? If many people are accessing the same information from the Essay on Goal Setting Immunity to Change same site at the same time, then the speed of transmission will be affected. Broadband Internet Usage Meter FAQs. The Internet Usage Meter is a monitoring tool provided to allow you to better manage the questionnaire usage of your Optus Broadband Service. It allows you to view how many Megabytes (MB) of data you have used. The Internet Usage Meter also allows you to monitor your usage on a monthly basis as well as providing up to 6 months of Essay on Goal Setting and Overcoming Immunity, historical usage. Happiness Questionnaire? Any customer on a plan with Excess usage will also be able to view a daily breakdown of their data usage.
Our systems update the Internet Usage Meter at regular intervals (at least every 15 minutes) under normal network conditions. On Goal? Occasionally a network event may cause delays in canadian technology inventions the updating of the usage meter. Why should I use the Internet Usage Meter? Your Optus Broadband plan provides you a set amount of data per Essay on Goal and Overcoming Immunity month (your Data Allowance). Deja Vecu? If you exceed your monthly plan data allowance, access will be speed limited to Immunity, 28.8, 64 or 128kbps depending on your plan until the end of the billing month. Optus 'yes' Fusion plans : excess usage may apply.
See Table 1 above under 'What is advantages of designer babies speed limiting?' for details. Note: Optus Fusion and Optus 'yes' Fusion plans combine both upload and download data transfers (1 Gigabyte = 1000 Megabytes) to determine your monthly usage. Remember: with Optus Fusion and Optus 'yes' Fusion plans, both downloads and uploads are counted against your monthly Data Allowance. The Internet Usage Meter will help you evaluate your usage of the service and will let you know how much data you have left at any given time. Total Business Cap: With Optus Total Business Cap plans any additional data usage over your plan's standard data allowance will be considered excess usage and will be charged to your account at a rate of $0.15 per MB (megabyte). Setting And Overcoming? All uploads downloads count towards your Total Business Cap plan included data usage.
Note: Due to usage rounding, total usage shown in the Internet Usage Meter may differ slightly from what is displayed on your bill. Will I be charged for the use of the deja vecu Internet Usage Meter? No. The Internet Usage Meter is provided as part of Essay on Goal, your monthly service fee. Jan Mikulicz-Radecki? However, accessing the Internet Usage Meter does count toward your monthly plan data allowance or excess usage charges (in the case of Optus 'yes' Fusion). How do I read the Essay Setting Immunity to Change Internet Usage Meter - Current Usage page? Current Usage provides a graphical representation of the amount of data you have used from your plan Data Allowance relative to the days available in your billing month. Thermometer-like indicators illustrate both Plan data used and Days used: Plan data used shows the amount of data you have used at the particular stage of your billing month, represented both as a percentage and technology, raw data figure (MBs). For Optus Fusion and Optus 'yes' Fusion plans, data usage is a combination of and Overcoming Immunity, both upload and download data.
Days used indicates how far you have progressed into your current billing month, represented both as a percentage and the number of days passed. This particularly is moral useful to Essay Setting and Overcoming Immunity to Change, help you manage the technology amount of Essay Immunity to Change, Plan Data Allowance available to you within the happiness questionnaire billing month. Total Business Cap: The graphical representation of on Goal and Overcoming to Change, usage is not available if you are connected to this plan. Jan Mikulicz-Radecki? You will be able to on Goal Setting and Overcoming to Change, view the Jan Mikulicz-Radecki usage of each service as a raw figure shown in Megabytes (MBs). Current Usage also provides useful information such as your existing plan, the Data Allowance of and Overcoming Immunity to Change, that plan, your existing billing month, your usage for the month to date in Megabytes (MBs), any Bonus data allocated/used (if applicable), and the date and advantages babies, time at Essay to Change which the last update occurred. How do I read the Internet Usage Meter - Daily page? This service is only available to plans that have excess usage.
To access the Daily Usage page, click on the link in the left hand navigation menu. Note: The Daily Usage page is definition only available to customers on 'yes' Optus Fusion plans. How do I read the Internet Usage Meter - History page? The History page shows the on Goal Setting and Overcoming to Change last three months worth of usage in graphical format format (not available to Total Business Cap customers), while the canadian last six months usage is on Goal and Overcoming Immunity shown in table format. Similar to the Current Usage page, the History page also shows a breakdown of Plan Allowance, Plan data used during the month and the billing period in question. In addition, it shows the amount of data that you have uploaded (sent from your computer). To access the History page, click on the link in the left hand navigation menu. Total Business Cap: The graphical representation of usage history is oxford happiness not available if you are connected to Essay to Change, this plan.
You will be able to view the usage of each service as a raw figure shown in Megabytes (MBs). What do the leadership definition different colours mean? The Internet Usage Meter provides a colour-coded reference to easily show the different types of usage that are available, and to connect the data shown in the graph to that in the table. For example your Plan Allowance will show in Essay blue, Bonus MBs (if applicable) in orange and deja vecu, Excess MBs in Essay on Goal and Overcoming Immunity to Change red. Not applicable to babies, Total Business Cap plans. What happens when I use all of my monthly Data Allowance? When you exceed 100% of your monthly plan's Data Allowance, access will be speed limited to 28.8, 64 or 128kbps depending on on Goal and Overcoming Immunity to Change your plan until the technology end of the billing month, at which point your Data Allowance will be reset. Essay On Goal Setting? An exclamation mark (!) and notification message box will appear in your Internet Usage Meter to deja vecu, represent this. The speed limiting cannot be reversed, and additional data cannot be purchased for the remainder of the Essay Immunity to Change month. Jan Mikulicz-Radecki? If you would like to upgrade your monthly plan in order to provide more data for your next and subsequent billing periods, click here to upgrade your plan or if you are on an Optus Fusion plan or a Total Business Cap plan, please contact Optus Broadband Customer Care on 133 343 to Essay Setting Immunity to Change, discuss your options.
'yes' Fusion only : excess usage may apply. See Table 1 above under 'What is speed limiting?' for details. Note: Optus Fusion and Optus 'yes' Fusion plans combine both upload and download data transfers (1 Gigabyte = 1000 Megabytes) to determine your monthly usage. Total Business Cap: With Optus Total Business Cap plans any additional data usage over your plan's standard data allowance will be considered excess usage and will be charged to your account at a rate of $0.15 per Jan Mikulicz-Radecki MB (megabyte). All uploads downloads count towards your Total Business Cap plan included data usage If you require additional data, plan changes can be done at, however the usage allowance for your new and Setting, old plan will be pro-rated for oxford happiness questionnaire that month. Please note, only one plan change permitted per Essay on Goal month.
What usage is included in my Data Usage count? Both upstream and inventions, downstream data is counted towards your plan's Data Usage for Optus MyHome and Fusion plans. This includes such things as general browsing of web pages, use of your email, all content on the myZOO website, online gaming and on Goal Setting Immunity to Change, streaming radio or video. For all Optus Broadband plans (excluding Fusion) that were available prior to 10 September, 2007 only downstream usage is counted towards your data allowance. Note: Both Optus Fusion and Optus 'yes' Fusion plans combine both upload and download data transfers to determine your monthly usage. Bonus data shown in MBs includes any MBs that have been added in addition to your standard plan's Data Allowance. The Optus Fusion and the Total Business Cap plans do not provide you with 'Bonus Data' e.g. 'yes' Data. Can I access the Internet Usage Meter using my additional email accounts? No. For security reasons only the Jan Mikulicz-Radecki primary account holder will have access to Setting to Change, the Internet Usage Meter (i.e. the username and password of the primary email account).
Can anyone else access my Internet Usage Meter? No. Canadian Inventions? As a username and password are required to on Goal Setting Immunity, login, only the primary account holder will have access. What if I forget my username and password? The username and exotic music, password are the Essay Setting same as for oxford questionnaire your first (primary) email account. If you are the account holder, you can change your password at Essay on Goal Setting and Overcoming Immunity any time by visiting the Change Password page in oxford Member Services or within the on Goal Setting Immunity to Change Desktop Service Centre located in your computer taskbar.
Will I get a warning when I'm close to reaching my plan Data Allowance? Yes. When you exceed 80% of your plan's Data Allowance, a notification will appear on Internet Usage Meter and an email will be sent to your primary email account. This will also occur when you exceed 100% of your plan's Data Allowance. Optus 'yes' Fusion Only: In addition to advantages, receiving the standard 80% and 100% Data allowance notifications, you will also be sent a notification when you reach 95% of your Data allowance. However, if you exceed your plan's standard Data Allowance, a notification will also be sent for every additional 250MB of data you use. Customers can elect to Essay Setting and Overcoming Immunity to Change, have Data Allowance notifications sent to an additional email address and by SMS to a nominated mobile phone. To do this, enter the additional contact details in Member Services online once Fusion is moral leadership definition activated on the account. On Goal And Overcoming To Change? You will only leadership definition, receive these by maintaining current primary e-mail and mobile phone number details in Member Services. Note: While we will make our best effort to send Data Allowance notifications within 'real time'. Customers should always check their Internet Usage Meter if unsure of their data usage.
Excess usage may apply. On Goal? See Table 1 above under 'What is Jan Mikulicz-Radecki speed limiting?' for details. Excess usage will be charged to your account at a rate of $0.15 per MB (megabyte). Once you reach 2GB (approx. $300 in excess usage charges) of excess data, your download speed will be limited to 64kbps or 128kbps depending on your plan until the end of your billing month. Note: Optus Fusion and on Goal Immunity to Change, Optus 'yes' Fusion plans combine both upload and download data transfers (1 Gigabyte = 1000 Megabytes) to inventions, determine your monthly usage. Total Business Cap: Customers connected to this plan will not receive usage notifications.
Please check the usage meter to determine your usage. Setting Immunity? Excess usage will be charged at a rate of $0.15 per Jan Mikulicz-Radecki MB (megabyte). All uploads downloads count towards your Total Business Cap plan included data usage. How often is the Internet Usage Meter updated? The Internet Usage Meter is updated on a regular basis - approximately every 15 minutes. The time and date of the last update is Essay Setting and Overcoming shown within the deja vecu data table on the Current Usage page. Occasionally a network event may cause delays in the updating of the usage meter. Unlimited Dial-up For Broadband Users FAQs (No longer available to new customers) Optus Internet now offers an to Change, Unlimited Dial-up account to existing Optus Broadband Internet users at a greatly reduced price. This account is handy for when you are travelling or otherwise away from your Broadband connection.
This feature is only available to active Optus Broadband customers. Unlimited Dial-up for Broadband users is oxford happiness available for $4.95 per month*. On Goal And Overcoming? This includes unlimited downloads and unlimited hours. Deja Vecu? There are no setup fees and no excess usage fees. No.
You can download as much as you like. A 5 hour session limit and Essay to Change, 20 minute idle time-out applies. How will I be billed for this feature? You will be debited monthly in advance from your nominated credit card or bank account. What if I already have a Dial-up account? Unlimited Dial-up is setup using the same username and password as your Broadband account. If you already have a Dial-up account sharing your primary Broadband username, you will have the option to change your current Dial-up plan to the new Unlimited Dial-up feature.
If your existing Dial-up account username is not shared with your primary Broadband username you will be able to setup a new Dial-up account for the Unlimited Dial-up feature, and your existing account will not be affected. What happens if I close my Broadband account? The Unlimited Dial-up feature is only available to active Optus Broadband Internet customers. If your Optus Broadband Internet account is closed or suspended, your Unlimited Dial-up account will automatically be closed. Can I use Dial-up while my Broadband service is logged in? Yes. You can use the Dial-up facility concurrently with your broadband connection. *Call charges apply to connect to the Optus Internet PoP network. Can I sign up to the $2.95/hour Casual Usage Plan. No.
This is no longer available. Exotic Music? Only existing customers on the Casual Usage plan can continue to Essay Setting and Overcoming, use this plan. How much does the advantages Dial-up Casual Usage plan cost? The Dial-up Casual Usage plan is charged at $2.95 per hour of Internet usage*. There is no monthly access fee.
You only Essay to Change, pay for what you use! No. You can download as much as you like. Oxford Happiness Questionnaire? You are only charged for the amount of time you spend connected to the Optus Dial-up Internet network. How will I be billed for Casual Usage Dial-up? Any usage on your Casual Usage Dial-up plan will be debited monthly, in arrears from your nominated credit card or bank account.
The Casual Usage plan is configured with a default 5 hour session limit (at anytime). This is an optional feature designed to protect you in the event your Dial-up service is left accidentally connected. You can easily modify this feature, or turn it off completely, by visiting the Essay on Goal to Change Session Limit page. How do I access my Casual Dial-up Plan usage? To view usage for Dial-up accounts, simply log in at My Usage.
What happens if I close my Broadband account? The Casual Usage Dial-up plan is only available to Jan Mikulicz-Radecki, active Optus Broadband Internet customers. Essay Setting And Overcoming Immunity? If your Optus Broadband Internet account is closed or suspended, your Casual Dial-up plan will automatically closed also. *Call charges apply to exotic music, connect to the Optus Internet PoP network.
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Essay on Monopoly Market | Micro Economics. In this essay we will discuss about monopoly market. After reading this essay you will learn about: 1. Meaning of Monopoly 2. Sources and Types of Monopoly 3. Monopoly Price Determination 4. Degree of Monopoly Power – Its Measure 5. Meaning of Monopoly Price Discrimination 6. Immunity? Types of advantages of designer babies, Price Discrimination 7. Conditions for Price Discrimination 8. Benefits of Price Discrimination and Other Details. Essay on the Meaning of Monopoly Essay on the Sources and Types of Monopoly Essay on Essay, Monopoly Price Determination Essay on the Degree of Monopoly Power – Its Measure Essay on oxford happiness questionnaire, the Meaning of Monopoly Price Discrimination Essay on Setting to Change, the Types of Price Discrimination Essay on the Conditions for Price Discrimination Essay on the Benefits of Price Discrimination Essay on the Harms of Price Discrimination Essay on Control and happiness questionnaire Regulation of Monopoly. Monopoly is a market situation in which there is only one seller of a product with barriers to entry of others. The product has no close substitutes. In the words of Setting Immunity to Change, Salvatore, “Monopoly is the form of market organisation in which there is a single fir m selling a commodity for which there are no close substitutes.”
The cross elasticity of canadian inventions, demand with every other product is very low. This means that no other firms produce a similar product. Thus, the Essay Setting Immunity to Change monopoly firm is itself an industry and the monopolist faces the industry demand curve. The demand curve for his product is, therefore, relatively stable and slopes downward to the right, given the tastes and incomes of his customers. It means that more of the product can be sold at a lower price than at a higher price. He is a price-maker who can set the price to his maximum advantage. However, it does not mean that he can set both price and output. He can do either of the deja vecu two things. His price is determined by his demand curve, once he selects his output level. Or, once he sets the price for his product, his output is Essay on Goal and Overcoming Immunity, determined by what consumers will take at that price. In any situation, the exotic music ultimate aim of the monopolist is to have maximum profits.
Essay # 2. Sources and Types of Essay Setting Immunity, Monopoly : Monopoly may arise from a number of sources and is of various types: First, grant of a patent right to exotic music, a firm by and Overcoming Immunity to Change the government to make, use or sell its own invention. Second, control of a strategic raw material for an exclusive production process. Third, a natural monopoly enjoyed by a firm when it supplies the entire market at a lower unit cost due to questionnaire, increasing economies of scale, just as in the supply of electricity, gas, etc. Fourth, government may grant exclusive right to a private firm to operate under its regulation. Such privately owned and government regulated monopolies are mostly in public utilities and are called legal monopolies such as in transport, communications, etc. Fifth, there may be government owned and regulated monopolies such as postal services, water and sewer systems of on Goal Setting and Overcoming Immunity to Change, municipal corporations, etc. Sixth, government may grant licence to a sole firm and protect it to exclude foreign rivals. Seventh, the sole manufacturer of a product may adopt a limit pricing policy in order to prevent the entry of oxford happiness questionnaire, new firms. Essay # 3. Monopoly Price Determination : We study the determination of monopoly price in the short-run and the long-run. The analysis of the determination of the price, output and profits under monopoly is based on the following assumptions: (1) There is Setting and Overcoming, one seller or producer of a homogeneous product.
(2) There are no close substitutes for oxford questionnaire, the product. (3) There is pure competition in the factor market so that the price of each input he buys is given to Essay Setting to Change, him. (4) The monopolist is a rational being who aims at maximum profit with the moral definition minimum of costs. (5) There are many buyers on Essay Setting and Overcoming Immunity to Change, the demand side but none is in a position to influence the price of the product by technology inventions his individual actions. Thus the price of the product is given for the consumer. (6) The monopolist does not charge discriminating price. He treats all consumers alike and charges a uniform price for his product. (7) The monopoly price is uncontrolled.
There are no restrictions on the power of the monopolist. (8) There is no threat of entry of other firms. Price and Output Determination : Given these assumptions, the price, output and Setting profits under monopoly are determined by the forces of demand and supply. The monopolist has complete control over the supply of the product. He is also a price- maker who can set the price to his maximum advantage. Deja Vecu? But he cannot fix the price and output simultaneously.
Either he can fix the price and Essay Immunity leave the output to be determined by the customer demand at that price. Or, he can fix the output to be produced and leave the price to be determined by the consumer demand for his product. Thus, whatever price he fixes and whatever output he decides to produce is determined by the conditions of demand. The demand curve faced by advantages babies a monopolist is definite and is downward sloping to Essay Setting and Overcoming Immunity, the right. It is his average revenue curve (AR). Its corresponding marginal revenue curve (MR) is also downward sloping and exotic music lies below it. But the manner and extent to which the monopolist will be able to influence price or output will depend upon the elasticity of demand for his product. If the demand for his product is highly elastic, he can sell more by a small reduction in Essay on Goal price.
If, on the other hand, the demand is exotic music, less elastic, the Essay on Goal Setting tendency will be to raise the price and profit more by selling less. Given the demand for his product, the monopolist can select the most profitable output against this demand. Exotic Music? His cost of on Goal Setting Immunity, production may be rising, falling or constant. Whatever the nature of the cost curves- straight line, convex or concave—the monopoly equilibrium will take place at a point where the marginal revenue equals marginal cost i.e. ?R /?Q = ?C /?Q. The monopolist maximises his profits at the price where the difference between total revenue and total costs is the technology inventions maximum i.e. Max ? = TR-TC. In other words, the monopolist gains the maximum when he equates marginal revenue ( MR) to on Goal Setting and Overcoming, marginal cost (MC). He may do this either by estimating the demand price and the cost of producing various outputs or by a process of trial and error. Geometrically speaking, the point of monopoly equilibrium is exotic music, one where the MC curve cuts the Immunity to Change MR curve from canadian inventions, below or from the left, and a perpendicular from it to the AR curve determines price. It implies that. Price MC = MR.
In fact, monopoly price = MC –E/E-1. AR (Price) = MR MC –E/E-1 and MC = MR. Monopoly Price = MC E/E-1. Thus monopoly price is a function of the MC and the elasticity of demand. We discuss below the determination of monopoly price in the short period and the long period.
(A) Short-Run Monopoly Equilibrium : In the short-run, the monopoly firm attains equilibrium when its profits are maximised or losses are minimised. Like the on Goal Setting to Change competitive equilibrium, this analysis can also he discussed in deja vecu terms of the total revenue-total cost approach and on Goal Setting and Overcoming to Change the marginal revenue-cost approach. Total Revenue-Cost Approach: In Figure 1. Moral Leadership? TC is the total cost curve showing a constant rise in the total costs as output increases. Essay And Overcoming Immunity To Change? TR is the total revenue curve which goes on rising to begin with, then flattens and later on slopes downward, showing fall in total receipts after a given point. The monopolist will maximise his profits at that output where the difference between TR and TC is the greatest. Advantages Of Designer Babies? This will be the level at which the slopes of TR and TC curves equal. Accordingly, P is the equilibrium point as determined by the tangents at points P and T on the TR and TC curves respectively. A and are the break-even points where TR = TC. To the Setting and Overcoming to Change left of A and right of B, the monopolist is incurring losses because TC TR.
Thus his maximum profits will be PT and he will sell OM output at exotic music MP Price. Marginal Revenue-Marginal Cost Approach: In the short-run, the monopolist can change the price as well as the quantity of the product. If he intends producing more, he can do so by increasing the use of variable inputs. He may start two shifts of production; hire more labour, raw materials, etc. But he cannot change his fixed plant and equipment. On the other hand, if he wants to restrict his output, he may dispense with certain workers, work for less hours and use less of the variable factors. In any case, his price cannot be below the average variable costs. It implies that he can continue to incur losses during the short period so long as he covers his average variable cost (AVC) of production.
Price is determined when (1) P SMC = MR, and (2) The SMC curve cuts the MR curve from below. It is at this equilibrium point that profits are maximised or losses are minimised. In Figure 2, SAC and SMC are the short-run average and marginal revenue curves respectively. AVC is the average variable cost curve. D/AR is the demand curve (the average revenue curve) whose corresponding marginal revenue curve is MR. The short-run monopoly equilibrium is at point E where the SMC curve cuts the MR curve from below.
The monopolist sells OM output at MP (=OB) price. The price MP, being above the short-run average cost MA, the monopolist earns AP profits per Essay on Goal Setting Immunity to Change unit of output. Thus total monopoly profits are AP ? CA= CAPB. In Figure 3, the short-run equilibrium of the monopolist is shown when he earns only normal profits. The equality of oxford questionnaire, SMC curve and Essay and Overcoming MR curve at deja vecu point E determines OM output which is sold at MP Price. Since the Essay Setting SAC curve is tangent to the AR curve at this level of output, the monopolist earns normal profits.
The monopolist knows that any level of output other than OM would bring losses because the SAC curve would be higher than the AR curve. Figure 4 shows a short-run situation in which the monopolist incurs losses. As usual, the equilibrium point E is exotic music, determined by the equality of SMC and MR. But the monopoly price MP, as fixed by demand conditions, does not cover the short-run average costs of production PA. It just covers the Essay on Goal to Change average variable costs MP, represented by the tangency of the demand curve D and the AVC curve at point P. PA is thus per unit loss which the monopolist incurs. Total losses are equal to BP x PA = BPAC. Happiness? In this figure, P is the shutdown point for this firm. If the market demand conditions lower the price from MP downward, the monopolist will temporarily stop production. His firm will close down. (B) Long-Run Monopoly Equilibrium:
In the long-run, the monopolist can remain in business only if he is able to earn super-normal profits. If he was incurring losses in the short-run, he has enough time to Essay on Goal Setting, make changes in his existing plant in the long- run so as to maximise his profits. With entry of new firms ruled out, he can install a plant which gives him maximum profits. The scale of his plant depends upon the position of the demand (AR) curve and its corresponding MR curve. Advantages? The most profitable level of output is at Immunity the point where the LMC curve intersects the MR curve from below and the SMC curve passes through this point.
Further, the deja vecu SAC curve must be tangent to the LAC curve at this level of output. Suppose in the long-run, the monopolist installs an efficient plant represented by the curve SAC 1 and SMC 1 in Figure 5. On this plant, the long-run profits are the maximum at the output OM where LMC = MR at point E. Since at this level the short-run average cost curve SAC 1 is on Goal Setting and Overcoming to Change, tangent to the LAC curve at Point A, the SMC 1 curve is also equal to the LMC curve and to advantages babies, the MR curve (SMC 1 = LMC =MR) at the equilibrium point E. Thus when the monopoly firm is in long-run equilibrium, it is Essay on Goal Setting Immunity, also in short- run equilibrium. By changing its scale of plant in the long-run, the monopolist charges the price OB (=MP), sells the output OM and earns BPAC monopoly profits. However this plant is less than the optimum size because the monopoly firm is not producing at the lowest point L of the LAC curve.
It has some excess capacity. It is not in a position to take full advantage of the economies of scale due to the small size of the market for his product. Essay # 4. Degree of Jan Mikulicz-Radecki, Monopoly Power – Its Measure: In monopoly, the Setting to Change monopolist is oxford questionnaire, able to earn monopoly profit by his superior bargaining power. He is in Essay on Goal Setting and Overcoming to Change a better position to leadership definition, exploit the market to his advantage.
He gains more by putting restraints on his actual and potential competitors. Thus monopoly power refers to the restraints imposed over his competitors by the monopolist through his price-output policies. There are two important methods of monopoly power: First, the difference between marginal cost and Essay on Goal Setting to Change price. Since in oxford questionnaire Monopoly, the marginal cost is always less than the price, the to Change greater the exotic music difference between the two, the on Goal Setting to Change larger is the monopoly power. Second, the difference between monopoly super-normal profits and competitive super-normal profits is also considered as the measure of monopoly power. The greater the difference between the two, the larger is the oxford questionnaire degree of monopoly.
However, economists have given other measures of monopoly power. We discuss a few. But no method is Essay on Goal to Change, regarded as perfect. One of the earliest methods to measure monopoly power is expressed by Prof. Abba P. Lerner in terms of the bargaining strength. The difference between price and marginal cost is the measure of the degree of monopoly power. If P is price and advantages MC the marginal cost, the formula for measuring the on Goal Setting and Overcoming to Change degree of monopoly power is definition, P-MC/P. A seller’s monopoly power depends upon on Goal Immunity, his ability to sell his product at a price much above his marginal cost.
The larger the gap between price and marginal cost, the greater is the monopoly power. A competitive seller has no monopoly power at all, because under perfect competition P = MC. In all cases, the above formula will give zero. But in the case of overproduction, MC may exceed price and of designer the index will have a negative value. Moreover, if the seller is a monopolist, the difference between price and on Goal and Overcoming marginal cost is always there. The index of monopoly power will, therefore, vary between zero and unity. For instance, if P is Rs.4 and MC Rs.2 the index of monopoly power will be 1/2 i.e. (4-2)/4. It is, however, not easy for a seller to raise the price of his product in order to increase his bargaining price.
The attempt to raise profits by exotic music a price rise may be neutralized by Essay Setting to Change the reduction in his sales resulting from raising the price. Therefore, the degree of deja vecu, monopoly power is measured in terms of the elasticity of demand and the formula is: Degree of monopoly power (DMP) = (P – MC)/ P. For profit maximisation, MC = MR, and the formula becomes. DMP= or the inverse of the elasticity of demand, By substituting MR = P E-1/E in the above equation, DMP= (P-P E-1/E)/P = P- PE +P/E/P = PE- PE+P/EP = 1/E. Or the Essay Setting and Overcoming Immunity to Change inverse of the elasticity of babies, demand, P/P-MR. Lerner’s measure is illustrated in Figure 6 where AC and MC curves are the firm’s average and marginal cost curves, while D and MR are its demand and marginal revenue curves.
The monopolist firm maximizes its profit at point E where MC = MR. It produces OM output and sells it at MP Price. The ratio PEIPM is Essay on Goal and Overcoming to Change, termed as the degree of monopoly power. The degree of monopoly power is the reciprocal of the P-MR elasticity of demand i.e., P-MR/P. In Figure 6, P is equal to advantages of designer, PM while MR is equal to EM. Rewrite the formula, The formula indicates that the degree of monopoly power is the reciprocal of the price elasticity of demand E. The lower is the Essay on Goal price elasticity of exotic music, demand the greater is the degree of monopoly power. The higher the elasticity, lower the monopoly power. If, for instance, price elasticity of demand is Essay Setting and Overcoming to Change, 2, the deja vecu degree of monopoly power will be one-half. On the other hand, the elasticity coefficient of and Overcoming Immunity to Change, 1/2 will indicate a monopoly power of 2. Though interesting, this measure of monopoly power has many limitations.
First, monopoly power does not depend exclusively on the difference between price and cost. It also depends on the restriction of output by the monopolist seller. The index showing the degree of monopoly may be equal in the case of advantages babies, two firms. But one may have under utilisation on its existing plant and equipment while the other may show underinvestment. The above formula fails to and Overcoming Immunity to Change, explain these important aspects of monopoly power. Secondly, the canadian technology inventions Lerner formula is incapable of measuring non-price competition. Again the index of monopoly power may be the same in case of two firms. But one firm may be engaged in intensive non-price competition than the other firm. It may thus be selling a large quantity of its product.
Lerner’s formula does not throw any light on this aspect of the problem. Thirdly, even the case of absolute monopoly power is difficult to explain in terms of this formula. The price elasticity of demand measures income and substitution effects of a change in price on consumer’s demand. But under absolute monopoly where competition is absent, the Setting and Overcoming Immunity substitution effect is zero and the income effect is the only effect. Thus the price elasticity of demand under monopoly measures only the income effect which may be negative or positive. Babies? The main flaw in Lerner’s measure is Essay and Overcoming Immunity to Change, that it does not attach any definite coefficient of elasticity to the degree of monopoly power. Fourthly, Lerner’s measure is essentially static. It does not reveal whether the level of canadian technology inventions, marginal cost is due to superior technology or the result of obsolete methods of production. Lastly, the Lerner measure is affected by changes over time in the ratio of capital to labour in on Goal Setting Immunity to Change an industry.
Despite these limitations, economists like Dunlop and Kalecki used this index to measure the degree of monopoly power. The former used this in the case of selected industries and the latter for the whole economy. Prof. Robert Triffin has improved upon definition, Lerner’s measure by suggesting price cross-elasticity instead of price elasticity of demand. Price cross-elasticity of demand measures the degree of substitution between the products of two firms when a change in the price of one firm’s product affects the demand for the other’s product. When the cross-elasticity of demand between the on Goal to Change product of one firm and of all other firms is oxford, zero, the reciprocal of cross-elasticity would be infinity and the firm would have absolute monopoly power.
According to Triffin, under pure monopoly, the cross-elasticity of demand is zero and the monopolist takes advantage of Essay on Goal and Overcoming, absolute monopoly power. On the other hand, cross-elasticity is infinite under perfect competition and the firm’s monopoly power is of designer babies, zero. First, like Lerner’s measure, the Triffin measure is unsuitable for practical purposes. Pure monopoly like pure competition is unreal. Immunity To Change? Secondly, it is not possible to find out a definite coefficient of leadership definition, cross-elasticity of demand in the case of any firm. Thirdly, the method of measuring monopoly power in terms of cross-elasticity of demand is not correct because its coefficient is zero both under pure monopoly and pure competition.
But monopoly power is found under pure monopoly rather than under pure competition. Prof. J.S. Bain suggests the size of super-normal profit as the degree of monopoly power. He uses the divergence between price and average cost as the measure of monopoly power.
Under perfect competition, super-normal profits are competed away with the entry of Essay on Goal Setting and Overcoming Immunity to Change, new firms in the industry. So the degree of monopoly power is zero when competition is pure. Jan Mikulicz-Radecki? It is, therefore, under monopoly with no threat of Essay and Overcoming Immunity to Change, entry of deja vecu, new firms that monopoly profits are the largest and the degree of monopoly power the absolute. The degree of Essay on Goal Setting to Change, monopoly power will, however, be small where the threat of new entrants exists. Jan Mikulicz-Radecki? Thus the Immunity degree of monopoly power is moral leadership definition, measured by the size of super-normal profits. The greater the Essay Setting Immunity strength of the seller, the larger profits he will earn without any threat of new entrants. The Bain measure is illustrated in Figure 6 where the monopoly firm produces OM output and sells it at MP Price. The difference between price and average cost (AC) is PC at OM per unit of output.
Thus A PC are the super-normal profits which measure monopoly power. But this measure is also not free from shortcomings. First, it is difficult to estimate the net income accruing to a firm. It depends upon the extent of its amortization of the cost of fixed factors. Secondly, there are other difficulties, like the deduction of interest and wages of management from the oxford questionnaire firm’s net income in order to calculate its profits.
Thirdly, all profits accruing to a firm are not monopoly profits. Firms, whether competitive or monopolistic, often earn windfall profits when demand and cost conditions change. They, therefore, need to be deducted from total net profits to arrive at pure monopoly profits. Lastly, excess profits may be due to monopolistic selling practices, monopolistic buying practices, or the result of increase in efficiency, newer manufacturing techniques and expert management. Prof. Rothschild measures the degree of monopoly power as the ratio of the slope of a firm’s demand curve to the slope of the industry demand curve. In Figure 7, dd represents the demand curve of a firm which is elastic than the industry demand curve DD. Thus. DMP=Slope of dd/Slope of DD= (KL/KR)/(KN/KR) = KL/KN.
Since under pure competition the demand curve of a firm is horizontal, the Rothschild index equals zero. Under pure monopoly there being no difference between firm and industry, this index equals unity. Therefore, the degree of monopoly power exists between zero and unity. The Rothschild measure of the Setting and Overcoming degree of monopoly power is vaguer than the other measures. First, it is not possible to estimate the exact shape of the demand curve for the relevant output range. Second, this index requires that all competitors keep their prices constant or they readjust their prices so as to deja vecu, keep them identical with the price being charged by the monopolist. Lastly, this measure is based exclusively on on Goal Immunity, demand factors and neglects supply and cost conditions. Essay # 5. Inventions? Meaning of Monopoly Price Discrimination: Price discrimination means, charging different prices from different customers or for different units of the same product.
In the words of Joan Robinson: “The act of selling the Essay on Goal Immunity same article, produced under single control at leadership definition different prices to different buyers is Essay and Overcoming Immunity to Change, known as price discrimination.” Price discrimination is possible when the monopolist sells in different markets in such a way that it is not possible to transfer any unit of the commodity from the cheap market to the dearer market. Price discrimination is, however, not possible under perfect competition, even if the oxford happiness two markets could be kept separate. Since the Essay on Goal Setting Immunity market demand in each market is deja vecu, perfectly elastic, every seller would try to sell in Essay Immunity to Change that market in which he could get the exotic music highest price. Competition would make the price equal in both the markets. Thus price discrimination is possible only when markets are imperfect. Essay # 6. Types of Price Discrimination: Price discrimination is of many types: Firstly, it may be personal based on the income of the customer.
For example, doctors and Essay on Goal and Overcoming lawyers charge different fees from different customers on the basis of their incomes. Higher fees are charged to rich persons and lower to the poor. Secondly, price discrimination may be based on the nature of the product. Paperback is cheaper than the Jan Mikulicz-Radecki deluxe edition of the same book, for the former is bought by the majority of on Goal to Change, readers, and exotic music the latter by libraries. Unbranded products, like open tea, are sold at lower prices than branded products like Brooke Bond or Tata tea. Economy size tooth pastes are relatively cheaper than ordinary-sized tooth pastes. In the case of services too, price discrimination is practiced when off-season rates of hotels at hill stations are very low as compared to the peak season.
Dry-cleaning firms charge for Essay on Goal Setting and Overcoming Immunity to Change, two while they clean three clothes during off-season; whereas they charge more for canadian technology, quick service in peak season. Thirdly, price discrimination is also related to the age, sex and status of the customers. Barbers charge less for children’s haircuts. Certain cinema halls in small towns in India admit ladies only at lower rates. Military personnel in and Overcoming uniform are admitted at concessional rates in certain cinema houses. Fourthly, discrimination is also based on the time of service. Cinema houses at certain places, like New Delhi, charge half the rates in the morning show than in the afternoon shows.
Fifthly, there is geographical or local discrimination when a monopolist sells in one market at a higher price than in the other market. Lastly, discrimination may he based on the use of the product. Railways charge different rates for different compartments or for happiness questionnaire, different services. Less is charged for Essay on Goal Setting and Overcoming, the transportation of Jan Mikulicz-Radecki, coal than for on Goal Setting, bales of cloth on the same route. State power boards charge low rates for industrial use than for domestic consumption of electricity.
Essay # 7. Conditions for Price Discrimination: For price discrimination to exist the following conditions must be satisfied: Price discrimination is possible when there is some degree of advantages of designer babies, market imperfection. The individual seller is Essay and Overcoming Immunity, able to deja vecu, divide and keep his market into separate parts only if it is imperfect. Customers do not move readily from one market to the other because of Essay on Goal and Overcoming Immunity, ignorance or inertia. (2) Agreement between Rival Sellers: Price discrimination also takes place when the seller of a commodity is a monopolist or when rivals enter into an agreement for the sale of the product at different prices to oxford happiness questionnaire, different customers. This is usually possible in the sale of direct services. A single surgeon may charge a high fee for an operation from a rich patient and a relatively low fee from a poor patient. Lawyers charge from their clients in proportion to the degree of risk or amount of money involved in on Goal Setting and Overcoming a law suit.
Price discrimination is possible in advantages babies the case of services because there is no possibility of resale. (3) Geographical or Tariff Barriers: Discrimination may occur on geographical grounds. The monopolist may discriminate between home and foreign buyers by selling at a lower price in the foreign market than in the domestic market. This type of discrimination is known as “dumping”.
It can only be successful if the commodities sold abroad can be prevented from being returned to the home country by tariff restrictions. Sometimes transport costs are so high that they act as a safeguard against the return of dumped goods. Discrimination is possible when buyers need the same service in connection with differentiated products. Railways charge different rates for the transport of coal and Essay on Goal Immunity copper. For they know that it is physically impossible for a copper merchant to advantages babies, convert copper into coal for the purpose of transporting it cheaper. It also applies to discrimination based on age, sex, status and income of Setting and Overcoming, buyers of services. For instance, a rich man cannot become poor for the sake of getting cheap medical facilities. Discrimination also occurs when small manufacturers sell goods made to order. Deja Vecu? They charge different rates to different buyers depending upon the intensity of their demand for the product.
Shoe makers and tailors charge a high price for the same variety from those customers who want them earlier than others. For the same variety of shoes and clothes, different buyers are also charged different prices because individual buyers are not in a position to Essay Setting to Change, know the deja vecu price being charged to others. (6) Artificial Difference between Goods: A monopolist may create artificial difference by presenting the Essay on Goal and Overcoming to Change same commodity in different quantities. He may present it under different names and labels, one for the rich and snobbish buyers and the other for the ordinary.
Thus he may charge different prices for substantially the same product. A washing soap manufacturer may wrap a small quantity of the soap, give it a separate name and charge a higher price. He may sell it at Rs.20 per kg. as against Rs.18 for the unwrapped soap. (7) Differences in Demand Elasticity: For price discrimination, the demand in the separate markets must be considerably different. Different prices can be charged in exotic music separate markets based on differences of elasticity of demand. Low price is charged where demand is more elastic and high price in the market with a less elastic demand. (4) Price Determination under Monopoly Discrimination: Price discrimination occurs when the monopolist divides the buyers of his commodity or service into Setting two or more groups and charges a different price to definition, each group. We take the case of a monopolist who sells his commodity in two separate markets. This analysis is based on the following conditions: (i) The aim of the monopolist is to maximise his profits.
He, therefore, produces that output at Essay on Goal Setting to Change which his marginal revenue equals marginal cost. Since he sells in two separate markets, he adjusts the quantity such wise in each market that marginal revenues in both markets are equal. Given the marginal cost of producing the exotic music commodity, the most profitable monopoly output will be determined at a point where the combined marginal revenue of both the markets equals the marginal cost. Or, monopoly profit = MR 1 = MR 2 = MC. If the marginal revenue is greater in market (one) than in market 2 (two), the monopolist will sell less to market 2 and shift this quantity to market 1. This will tend to raise the price in market 2 and lower it in market 1 up to a point where marginal revenues in the two markets are equal. (ii) The number of buyers in each market is very large and Essay on Goal Setting and Overcoming to Change there is perfect competition among them. (iii) There is no possibility of resale from exotic music, one market to the other. (iv) The monopolist’s demand curve in each market is downward sloping which implies that his monopoly in selling the commodity is well established in the two markets.
(v) Lastly, the most important condition for price discrimination is Setting Immunity, that the elasticities of demand in the two markets must be different. It means that the price charged in each market must be different from the other. The price will be high in the market with the less elastic demand and low in the market with the high elastic demand. In the words of Joan Robinson: “The sub-markets will be arranged in ascending order of their elasticities, the highest price being charged in the least elastic market and the lowest price in the most elastic market.” Figure 8 illustrates price and output determination under price discrimination. The monopolist sells his product in two markets, 1 and 2. Market 1 has high elastic demand for the product and market 2 has low elastic demand. Of Designer Babies? Accordingly, the Essay on Goal Setting and Overcoming demand curve in market 1 is D 1 and its corresponding marginal revenue curve is MR 1 and in exotic music market 2 the corresponding curves are D 2 and MR 2 . Panel of the figure shows MR T , the total marginal revenue curve, drawn by the lateral summation of MR 1 , and MR 2 , curves, and MC is the marginal cost curve.
The point of and Overcoming, intersection between the MR T and MC curves at E determines the equilibrium level of output OQ T . The monopolist divides this output between the two markets by equating the marginal cost Q T E with the marginal revenue of each market. To equal the marginal costs Q T E with MR, and MR, draw a line EA parallel to the horizontal axis. It cuts MR, at E, and MR, at E 2 which become equilibrium points for the sale of output in each market. Thus, the quantity sold in market 1 is OQ, and in market 2 it is OQ 2 , so that OQ 1 + OQ 2 equal the advantages of designer babies total output OQ T . The price in the highly elastic (foreign) market is Q, P, and in the less elastic (domestic) market Q 2 P 2 and Q 2 P 2 Q 1 P 1 Total profits earned by the discriminating monopolist are MEC. We may conclude that under price discrimination the monopolist sells his product in two separate markets with different elasticities of demand so that he maximises his profits when he sells more at Setting and Overcoming Immunity to Change a lower price in the foreign market with elastic demand and sells less at a higher price in of designer babies domestic market with less elastic demand. It follows that when marginal revenues equal and prices differ in the two markets, price discrimination is possible and Essay on Goal Setting and Overcoming to Change profitable.
(5) Dumping: International Price Discrimination: Dumping is international price discrimination in which an exporter firm sells a portion of its output in a foreign market at a very low price and deja vecu the remaining output at a high price in the home market. The home market is controlled or protected and Essay on Goal Setting to Change the foreign market is free or open. Heberler defines dumping as: “The sale of questionnaire, goods abroad at Essay on Goal Immunity to Change a price which is lower than the selling price of the leadership same goods at the same time and in the same circumstances at home, taming account of differences in transport costs.” The analysis of price-output determination under dumping assumes that: (a) Total output is not fixed, it can be varied; (b) Marginal revenues must be equal in the two markets, and. (c) The foreign market is perfectly competitive and Essay on Goal Setting and Overcoming Immunity the home market is monopolistic, so that the demand curve facing the monopolistic in the foreign market is perfectly elastic and in the home market less elastic. Given, the above assumptions, price, output will be determined by technology inventions the equality of the total marginal revenue curve and the marginal cost curve of producing the commodity. Figure 9 illustrates price-output determination under dumping. Essay Setting And Overcoming? The foreign market demand curve faced by the monopolist is the horizontal line PD F which is also the MR curve because the foreign market is exotic music, assumed to on Goal Setting Immunity to Change, be perfectly elastic. The demand curve in babies the home market with a less elastic demand for the product is the downward sloping curve D H and its corresponding marginal revenue curve is MR^ The lateral summation of the MR H and PD curves leads to the formation of TRED F as the combined marginal revenue curve.
In order to determine the quantity of the product to be produced by the monopolist, we take the marginal cost curve MC which cuts the Essay Setting and Overcoming combined marginal revenue curve TRED F from below at point E. Thus OF output will be produced for of designer babies, sale in the two markets. Since EF is the marginal cost, equilibrium in Essay on Goal Setting Immunity to Change the domestic market will be established at point R where the marginal cost EF equals the MR H curve. Now OH quantity will be sold at HM price in deja vecu the home market and the remaining quantity HF will be sold in the foreign market at OP price. Thus the monopolist sells more in the foreign market with the more elastic demand at a low price and less in the home market with the less elastic demand at a high price. His total profits are TREC. Essay # 8. Benefits of Price Discrimination: Pigou and John Robinson have analysed the circumstances under which price discrimination is harmful or beneficial to society. In many cases where there is perfect competition or simple monopoly, production of a certain commodity is Immunity to Change, not possible because its average cost curve lies above its demand (AR) curve. But under price discrimination the average cost curve is likely to be below the advantages babies average revenue curve at on Goal and Overcoming Immunity some point. Thus, if there were no discrimination, society would be deprived of the use of certain commodities and services. As emphasised by Mrs.
Robinson: “It may happen, for instance, that a railway would not be built, or a country doctor would not set up in practice, if discrimination were forbidden. From the point of view of moral, society, it is only necessary that the concern should make sufficient profits to maintain the efficiency of the plant, and on Goal Setting and Overcoming not a profit which would have been sufficient to justify the original investment.” If a doctor charges a uniform fee to all his patients, his income may be so low as to induce him to leave his private practice and join some hospital. The community is thus deprived of his services in the particular area where he is practising. If, however, he charges more fee to his rich patients than to the ordinarily, his income is likely to of designer, be so high as to induce him to stay in that area.
Similarly, the existence of railways depends upon their charging higher rates to some customers than to others in on Goal Setting and Overcoming the same train. If discrimination occurs under conditions of technology inventions, falling average costs, it is actually beneficial to consumers because it results in larger output for the market. This is on Goal and Overcoming Immunity, illustrated in Figure 10 where D is the deja vecu average revenue curve of the on Goal Immunity discriminating monopolist and d/MR is the ordinary demand curve which becomes the MR curve to the discriminator. The average cost curve AC lies above the Jan Mikulicz-Radecki market demand curve d throughout its length. So no production is possible at Essay and Overcoming Immunity to Change any price on the ordinary d curve. But production is possible under price discrimination because the demand curve D of the discriminating monopolist lies above the downward sloping portion of the AC curve. Exotic Music? Equilibrium is established at E where MC = MR and Essay on Goal and Overcoming the output OQ is produced and sold at QP price and the discriminator g earns RP profits per unit of output. Price discrimination is justified if it helps in promoting economic welfare. Governments usually permit or even encourage price discrimination if it leads to the production of exotic music, some public utility service, such as telephone, telegraph, or rail transportation. In public utility services, the higher income groups are charged higher prices and Essay Setting and Overcoming Immunity to Change the funds so collected may be used to subsidies the goods meant for Jan Mikulicz-Radecki, the poor.
Price discrimination is also beneficial to society for it helps in Essay on Goal Setting and Overcoming to Change reducing inequalities of personal incomes when higher prices or fees are charged to the rich than to the poor. In public utility services, the higher price charged to the higher income groups serves as a tool for income redistribution because the government may use these funds to subsidies the lower income groups. Thus price discrimination helps in promoting social warfare. Price discrimination is not only beneficial but is also justified when a country sells a commodity cheaper abroad than at home. If a foreign market is elastic, more will be sold at a lower price.
It means expansion in output, the use of larger resources of the economy, more employment and income to the community. Price discrimination of this type proves particularly useful if the industry obeys the law of decreasing costs. Happiness? It implies the realisation of larger economies of scale, lowering of costs and prices to the home market also. It is possible that without price discrimination the commodity would not have been produced at all. In that case, had it been imported from abroad, it would have cost the economy more both in pecuniary and to Change real terms. Some of the country’s resources being used for the production of of designer babies, this commodity would have remained idle and instead of on Goal Setting and Overcoming to Change, receiving income from exotic music, abroad, its wealth would have floated to the other country. May be, economies of Essay Immunity, scales could be realised only when the monopolist started producing for the foreign market. Hence price discrimination is justified.
Essay # 9. Harms of Price Discrimination : Price discrimination is, however, harmful to society when it leads to mal-distribution of resources as between different uses with the result that output, employment and income are not maximised. It may lead to deja vecu, the diversion of resources from Essay and Overcoming Immunity, their socially optimal uses. It leads to exploitation when people are made to pay higher prices for smaller quantities. Even on international plane when price discrimination takes to form of dumping, it. Deliberately shatters the economy of the other country by undercutting the foreign producers and forcing them to close their business. Such discrimination is highly undesirable. Essay # 10.
Control and Regulation of Monopoly: There are three methods of controlling and Jan Mikulicz-Radecki regulating monopoly : First, government may adopt anti-monopoly laws and restrictive trade practices legislation. Second, government may either run natural monopolies directly or regulate monopolies by imposing price ceilings. Immunity To Change? Third, government may regulate monopolies through taxation. Besides, there are certain fears that prevent the monopolist from oxford happiness questionnaire, charging a very high price in order to earn large super-normal profits.
They are discussed as under. (1) Fear of Potential Rivals. The fear of potential competitors may prevent a monopolist to charge a very high price to his customers. Essay Setting And Overcoming Immunity? If he sets a vary high price, he will earn large super-normal profits. Attracted by these monopoly profits, new entrants may force themselves into the monopolised industry. The monopolist, being averse to the entry of new firms, would prefer to charge a reasonable price and moral thus earn only a modest profit. (2) Fear of Government Regulation.
The same consideration applies to potential government regulation. The monopolist is well aware that charging unusually high prices or earning abnormal profits would attract the attention of the government. Rather than risk government regulation, he may voluntarily fix a low price, and earn less monopoly profit. (3) Fear of Nationalisation. The fear of nationalisation also prevents the on Goal Setting and Overcoming monopolist to wield an technology, absolute monopoly power. If the product or service which the monopolist provides is a public utility service, there is every likelihood of the state taking over Essay on Goal and Overcoming Immunity to Change, the monopoly organisation in public interest. This consideration may prevent the monopolist from Jan Mikulicz-Radecki, charging too high a price. (4) Fear of Public Reaction.
The monopolist is also aware of public reaction if he charges a very high price and earns huge profits. Voices may be raised against the monopoly firm in parliament to press for anti- monopoly legislation. (5) Fear of Boycott. People may even boycott the use of and Overcoming, monopolised service and start their own service instead. For instance, if in a big city taxi operators combine to charge high rates, people may boycott taxi service and deja vecu even start operating their own services by on Goal Immunity forming a cooperative society. Naturally, such a fear compels monopoly firms to charge reasonable prices and earn only nominal profits. (6) Fear of Substitutes. Then there is the fear of substitutes. In fact, the fear of substitutes is the happiness most potent factor which prevents monopoly firms from charging very high prices and thereby earn super-normal profits. The monopoly product has some substitute though it is not a close substitute. Therefore, the fear of the emergence of very close substitutes is always uppermost in the mind of the on Goal Setting and Overcoming Immunity monopolist which acts as a restraint on his absolute power.
(7) Differences in Elasticities of Demand. Jan Mikulicz-Radecki? The differences in the short-and long-run elasticities of demand for the monopoly product also limit monopoly power. In the short-run, the monopolist can charge a very high price because customers take time to adjust their habits, tastes and incomes to some other substitutes. The demand for the monopoly product is, therefore, less elastic in the short-run. But in the long-run, the on Goal and Overcoming fear of public opinion, emergence of substitutes, government regulations, etc. will force the monopolist to set a low price. He will view his demand curve as elastic, and sell more at canadian inventions a low price.” (i) Control of Monopoly through Legislation: Government tries to on Goal, control monopoly by anti-monopoly laws and restrictive trade practices legislation. These measures tend to: (i) Remove restrictive trade practices and fixation of high prices; (ii) Reduce the incidence of market-sharing agreements; (Hi) Remove unfair competition; (iv) Restrict the control of very large share of the market; (v) Prevent unfair price discrimination; (vi) Restrict mergers in order to canadian technology, avoid market domination; and. (vii) Prohibit exclusive agreements between the on Goal and Overcoming to Change producer and retailer to advantages babies, the detriment of other traders.
(ii) Control of Monopoly through Price Regulation: We now take the case where the government feels that monopoly price is very high and tries to bring it down by price regulation. To regulate monopoly, the government imposes price ceiling so that monopoly price should be near or equal to competitive price. This is done when the government appoints a regulating authority or commission which fixes a price for on Goal to Change, the monopoly product below the monopoly price, thereby increasing output and lowering the price for the consumer. This is illustrated in Figure 11. Before the regulation of monopoly price, the exotic music monopolist is making PF x OM profits by selling OM output at MP (=OA) price. Suppose the state regulatory authority sets the maximum price QK (=OB) at the competitive level. Essay Setting And Overcoming Immunity To Change? The new demand curve facing the monopolist becomes BKD. Its corresponding MR curve becomes BKHMR. Now the monopolist behaves as a perfectly competitive producer. Jan Mikulicz-Radecki? He produces and sells OQ output at point where the MC curve cuts the Immunity BKHMR curve from below.
As a result of price regulation, the monopolist increases his output to OQ from deja vecu, OM. He still makes super- normal profits equal to KG x OQ that are smaller than the monopoly profits (PF x OM) at the unregulated price MP. If the Essay on Goal Setting Immunity to Change price regulatory authority fixes the monopoly price WS equal to the average cost where the AC curve cuts the D/AR curve at point S, the monopolist would be able to place a greater quantity of output OW in the market. At this level, the monopolist would earn only normal profits. In such a situation, the monopolist would continue to produce so long as he is getting a fair return on his capital investment. But the oxford happiness regulatory authority cannot force him to increase output beyond OW because the monopolist would not be operating at a loss.
(iii) Control of on Goal Immunity to Change, Monopoly through Taxation: Taxation is another way of controlling monopoly power. Oxford Happiness Questionnaire? The tax may be levied lump-sum without any regard to the output of the monopolist. Or, it may be proportional to the output, the amount of on Goal Immunity, tax rising with the increase in deja vecu output. By levying a lump-sum tax, the Essay on Goal Setting Immunity to Change government can reduce or even eliminate monopoly profits without affecting either the deja vecu price or output of the product.
A lump-sum tax imposed on the monopoly firm is shown in Figure 12 where AC and MC are the average cost and marginal cost curves before the tax is levied. The monopolist earns APRT super-normal profits by selling OM product at MP Price. The imposition of the lump-sum tax is, in fact, a fixed cost to the monopoly firm because it is independent of output. It, therefore, raises the average cost by the amount of the tax TC so that the AC curve shifts upward as AC ] but the marginal cost remains unaffected. So the imposition of Essay on Goal and Overcoming Immunity, a lump-sum tax has the effect of reducing monopoly profit from APRT to APBC. The entire burden of the tax will be borne by the monopolist himself.
He cannot shift any part of it to his customers at any stage by raising the deja vecu price and Essay Immunity reducing output. Since the monopolist’s marginal cost curve and advantages of designer babies the marginal revenue curve remain unaffected by the tax imposition, any change in the existing price- output combination would only lead to losses. The government can also reduce monopoly profits by levying a specific or a per unit tax on the monopolist’s product. A per unit tax on monopoly output has the effect of shifting both the average and marginal cost curves upward by the amount of the tax. Figure 13 illustrates this case. AC and MC are the monopoly firm’s average cost and marginal cost curves before the to Change tax imposition. It earns BPGK monopoly profits by selling OM quantity of the deja vecu product at UP price. Suppose a the government levies a specific tax which being a variable cost to the monopoly firm tends to shift the cost curves upward to AC 1 and MC 1 . The monopolist’s new equilibrium point is E 1 where the Essay on Goal Setting to Change MC 1 curve cuts the MR curve. The new price is M 1 P 1 MP (the old price) and the output is OM 1 OM (the original output). In this case, the monopolist is able to shift a part of the tax burden to consumers in the form of higher price and leadership definition a smaller output of the product.
Since the monopolist has to bear a portion of the tax burden him, his profits are also reduced from BPGK to RP 1 CF. Such a tax does not help in regulating monopoly price and output. For the on Goal Setting and Overcoming Immunity higher, the exotic music demand elasticity of tax, the higher the price for Essay and Overcoming to Change, the product and the lower the output. The ultimate loss will be borne by the public rather than by the monopolist. Welcome to EconomicsDiscussion.net!
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Essay on Goal Setting and Overcoming Immunity to Change
Free Online Strategy Innovation Training | businessballs.com. The PEST analysis is Essay Setting to Change a useful tool for understanding market growth or decline, and as such the position, potential and direction for a business. Table of Jan Mikulicz-Radecki contents. PEST analysis method and Essay on Goal Immunity to Change, examples, with free PEST template. The PEST analysis is a useful tool for understanding market growth or decline, and as such the position, potential and direction for a business. A PEST analysis is a business measurement tool. PEST is an acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational unit. Deja Vecu! The PEST analysis headings are a framework for Essay on Goal Setting Immunity reviewing a situation, and deja vecu, can also, like SWOT analysis, and Porter's Five Forces model, be used to review a strategy or position, direction of Setting a company, a marketing proposition, or idea. Completing a PEST analysis is exotic music very simple, and is a good subject for on Goal Setting and Overcoming to Change workshop sessions. PEST analysis also works well in brainstorming meetingshttps://www.businessballs.com/problem-solving-and-decision-making/brainstorming-for-team-building-and-problem-solving-how-to-109/brainstorming meetings.
Use PEST analysis for business and strategic planning, marketing planning, business and canadian technology inventions, product development and research reports. And Overcoming To Change! You can also use PEST analysis exercises for team building games. PEST analysis is similar to SWOT analysis - it's simple, quick, and Jan Mikulicz-Radecki, uses four key perspectives. As PEST factors are essentially external, completing a PEST analysis is helpful prior to Setting and Overcoming completing a SWOT analysis (a SWOT analysis - Strengths, Weaknesses, Opportunities, Threats - is oxford happiness questionnaire based broadly on half internal and half external factors). The PEST model, like most very good simple concepts, has prompted several variations on on Goal Setting and Overcoming the theme.
For example, the deja vecu PEST acronym is sometimes shown as STEP, which obviously represents the same factors. Stick with PEST - nearly everyone else does. More confusingly (and some would say unnecessarily) PEST is also extended to Setting to Change seven or even more factors, by adding Ecological (or Environmental), Legislative (or Legal), and Industry Analysis, which produces the PESTELI model. Advantages Babies! Other variations on Essay and Overcoming the theme include STEEP and PESTLE, which allow for a dedicated Ethical section. STEEPLED is another interpretation which includes pretty well everything except the kitchen sink: Political, Economic, Social and Technological - plus Ecological or Environmental, Ethical, Demographic and Legal. It's a matter of personal choice, but for most situations the original PEST analysis model arguably covers all of the 'additional' factors within the original four main sections. For example Ecological or Environmental factors can be positioned under any or all of the four main PEST headings, depending on their effect. Legislative factors would normally be covered under the deja vecu Political heading since they will generally be politically motivated. Demographics usually are an aspect of the larger Social issue. Industry Analysis is Essay Setting and Overcoming effectively covered under the Economic heading. Ethical considerations would typically be included in the Social and/or Political areas, depending on the perspective and the effect.
Thus we can often see these 'additional' factors as 'sub-items' or perspectives within the four main sections. Keeping to advantages of designer four fundamental perspectives also imposes a discipline of considering strategic context and effect. Many potential 'additional' factors (ethical, legislative, environmental for example) will commonly be contributory causes which act on one or some of the main four headings, rather than be big strategic factors in Setting and Overcoming Immunity to Change their own right. The shape and simplicity of a four-part model is oxford happiness also somehow more strategically appealing and Setting and Overcoming to Change, easier to manipulate and convey. Ultimately you must use what version works best for exotic music you, and importantly for others who need to understand you, which is another good reason perhaps for Essay Setting to Change sticking with PEST, because everyone knows it, and deja vecu, you'll not need to spend half the presentation explaining the meaning of STEEPLED or some other quirky interpretation. If you have come across any other weird and wonderful extended interpretations of PEST I'd love to see them. On which point (thanks D Taylor) I am informed of and Overcoming to Change one such variation, which featured in some 2010 coursework: PEST LIED. The PEST element represents the usual factors - Political, Economic, Social and Technological. The LIED add-on stands for Legal, International, Environment and Demography.
Suggestions of origin gratefully received, and any other variations of the PEST model. A PEST analysis most commonly measures a market ; a SWOT analysis measures a business unit, a proposition or idea . Generally speaking a SWOT analysis measures a business unit or proposition, whereas a PEST analysis measures the market potential and situation, particularly indicating growth or decline, and thereby market attractiveness, business potential, and suitability of access - market potential and deja vecu, 'fit' in on Goal Setting and Overcoming Immunity to Change other words. PEST analysis uses four perspectives, which give a logical structure, in this case organized by the PEST format, that helps understanding, presentation, discussion and decision-making. The four dimensions are an extension of a basic two heading list of pro's and con's (free pro's and con's template here). PEST analysis can be used for marketing and business development assessment and technology, decision-making, and on Goal Setting Immunity, the PEST template encourages proactive thinking, rather than relying on deja vecu habitual or instinctive reactions. Here the PEST analysis template is Essay Immunity to Change presented as a grid, comprising four sections, one for deja vecu each of the PEST headings: Political, Economic, Social and Technological.
As previously explained, extended variations of PEST (eg., PESTELI and STEEP, etc) include other factors, such as Environmental, Ethical, Legal or Legislative, etc., however in most situations you will find that these 'additional' factors are actually contributory causes or detailed perspectives which then manifest or take effect in the form or one or several of the original four main PEST factors. For example, Ethical and Environmental factors will always tend to produce an effect in at least one of the main four headings (Political, Economic, Social, Technological), but it will tend not to work the other way. Hence why the on Goal Setting Immunity basic PEST model is often the most powerful - it puts more pressure on strategic appreciation and deja vecu, analysis than a longer list of headings. When you next see a PESTELI or a STEEPLED analysis ask yourself (or the author): Okay, I understand that customers tend to be more ethically minded now, but what does that mean in terms of the Essay Setting and Overcoming Immunity basic four PEST factors - what's the effect going to leadership definition be. or: Okay we know that carbon emissions is an issue, but tell me where in Immunity the main four PEST factors will it impact. You will gather I am not a fan nor a particular advocate of extending the PEST model.
It works great as it is - why make it more complicated and deja vecu, less specific? If you are worried about missing or forgetting a crucial point of ethics or legislation (or anything else) keep a reference list of Essay and Overcoming Immunity these headings, and only build them into the model if you are sure that doing so will make it work better as a strategic tool. The free PEST template below includes sample questions or prompts, whose answers are can be inserted into moral leadership definition the relevant section of the PEST grid. The questions are examples of discussion points, and obviously can be altered depending on the subject of the PEST analysis, and how you want to use it. Make up your own PEST questions and prompts to suit the issue being analysed and Essay Setting and Overcoming, the situation (ie., the people doing the deja vecu work and the expectations of them).
Like SWOT analysis, it is important to clearly identify the on Goal and Overcoming to Change subject of a PEST analysis, because a PEST analysis is of designer babies four-way perspective in relation to Essay Setting and Overcoming to Change a particular business unit or proposition - if you blur the focus you will produce a blurred picture - so be clear about the market that you use PEST to analyse. A market is canadian inventions defined by what is addressing it, be it a product, company, brand, business unit, proposition, idea, etc, so be clear about on Goal Setting how you define the market being analysed, particularly if you use PEST analysis in workshops, team exercises or as a delegated task. The PEST subject should be a clear definition of the market being addressed, which might be from any of the following standpoints: a company looking at Jan Mikulicz-Radecki, its market a product looking at its market a brand in relation to its market a local business unit a strategic option, such as entering a new market or launching a new product a potential acquisition a potential partnership an investment opportunity. Be sure to Essay on Goal Setting and Overcoming Immunity describe the subject for the PEST analysis clearly so that people contributing to inventions the analysis, and Setting Immunity, those seeing the finished PEST analysis, properly understand the deja vecu purpose of the PEST assessment and implications. Other than the four main headings, the Essay Setting and Overcoming to Change questions and issues in oxford questionnaire the template below are examples and not exhaustive - add your own and amend these prompts to suit your situation, the experience and skill level of Essay on Goal Setting and Overcoming whoever is completing the analysis, and advantages of designer, what you aim to produce from the analysis. Ensure you consider the additional PESTELI/STEEPLED headings, and Essay on Goal, any others you feel are relevant, but avoid building these into the final analysis model unless you gain some strategic planning or presentation benefit from deja vecu doing so. If helpful refer to a list of these other 'headings', for and Overcoming Immunity example: Ecological/ Environmental, Legislative/or Legal, Demographic, Ethical, Industry Analysis. Apply some strategic consideration and pressure to the points you list under these 'additional' headings. Ask yourself what the effects of advantages of designer babies each will be on the 'big four' (Political, Economic, Social, Technological).
Often your answers will persuade you that the original four-part PEST model is best and Essay Immunity to Change, that using a more complex series of headings makes it more difficult to complete the analysis fully and strategically. The analysis can be converted into a more scientific measurement by oxford happiness, scoring the Essay on Goal and Overcoming items in each of the sections. There is are established good or bad reference points - these are for you to decide. Scoring is leadership definition particularly beneficial if more than one market is being analysed, for the purpose of Essay Setting to Change comparing which market or opportunity holds most potential and/or obstacles. This is useful when considering business development and investment options, ie, whether to develop market A or B; whether to concentrate on local distribution or export; whether to acquire company X or company Y, etc. If helpful when comparing more than one different market analysis, scoring can also be weighted according to the more or less significant factors. (insert subject for PEST analysis - market, business, proposition, etc.) ecological/environmental issues current legislation home market future legislation international legislation regulatory bodies and processes government policies government term and change trading policies funding, grants and initiatives home market lobbying/pressure groups international pressure groups wars and conflicts.
home economy situation home economy trends overseas economies and trends general taxation issues taxation specific to product/services seasonality/weather issues market and trade cycles specific industry factors market routes and exotic music, distribution trends customer/end-user drivers interest and exchange rates international trade/monetary issues. lifestyle trends demographics consumer attitudes and opinions media views law changes affecting social factors brand, company, technology image consumer buying patterns fashion and role models major events and on Goal Immunity to Change, influences buying access and trends ethnic/religious factors advertising and publicity ethical issues. competing technology development research funding associated/dependent technologies replacement technology/solutions maturity of Jan Mikulicz-Radecki technology manufacturing maturity and capacity information and communications consumer buying mechanisms/technology technology legislation innovation potential technology access, licencing, patents intellectual property issues global communications. more on Essay and Overcoming the difference and relationship between PEST and SWOT. PEST is useful before SWOT - not generally vice-versa - PEST definitely helps to identify SWOT factors. There is overlap between PEST and canadian inventions, SWOT, in that similar factors would appear in Essay on Goal Setting and Overcoming Immunity to Change each. That said, PEST and SWOT are certainly two different perspectives: PEST assesses a market, including competitors, from the standpoint of a particular proposition or a business. SWOT is an assessment of a business or a proposition, whether your own or a competitor's.
Strategic planning is not a precise science - no tool is advantages of designer babies mandatory - it's a matter of pragmatic choice as to what helps best to identify and on Goal and Overcoming, explain the issues. PEST becomes more useful and relevant the larger and more complex the business or proposition, but even for a very small local businesses a PEST analysis can still throw up one or two very significant issues that might otherwise be missed. The four quadrants in PEST vary in Jan Mikulicz-Radecki significance depending on the type of business, eg., social factors are more obviously relevant to consumer businesses or a B2B business close to the consumer-end of the on Goal Setting and Overcoming to Change supply chain, whereas political factors are more obviously relevant to a global munitions supplier or aerosol propellant manufacturer. All businesses benefit from exotic music a SWOT analysis, and all businesses benefit from completing a SWOT analysis of on Goal and Overcoming Immunity their main competitors, which interestingly can then provide some feed back into the economic aspects of the PEST analysis.